Duck Creek Technologies is said to have packed Duck Creek OnDemand with Duck Creek Policy, Duck Creek Claims, Duck Creek Billing, and Duck Creek Insights
Munich Re Specialty Insurance leverages Duck Creek OnDemand platform for product innovation. (Credit: Free-Photos from Pixabay)
Duck Creek Technologies said that Munich Re Specialty Insurance (MRSI) will modernise its technology infrastructure with a digital-first, cloud-native offering through the Duck Creek OnDemand platform.
According to the US-based insurtech company, Duck Creek OnDemand has been developed as an end-to-end SaaS cloud-based solution. The solution is said to provide all services, support, and computing resources needed for aiding insurance carriers to move faster and more efficiently.
MSRI chief operating officer comments on Duck Creek OnDemand
Munich Re Specialty Insurance chief operating officer Adam Edelstein said: “The initiative is a key step forward in support of MRSI’s mission to provide exceptional service to our partners, clients and customers.
“By enabling our underwriting, claims and operations teams, as well as our business partners, with the speed and efficiency delivered via Duck Creek OnDemand, MRSI is positioning itself for significant growth.”
Duck Creek Technologies is said to have packed Duck Creek OnDemand with Duck Creek Policy, Duck Creek Claims, Duck Creek Billing, and Duck Creek Insights.
As per the US insurtech company, the solution is said to facilitate a fundamentally new approach for competing in the modern-day insurance industry, where technology supports strategy rather than dictating it, and where insurers are empowered to focus on innovation in completely new ways.
Duck Creek OnDemand is said to achieve it by tapping into the best available technology and by continuously offering new functionality to address the ever-evolving property and casualty and general insurance business challenges with speed as well as flexibility.
Duck Creek Technologies chief product and technology officer Andy Dey said: “All insurers focus on speed-to-market as a differentiating factor.
“But what MRSI has accomplished is truly unprecedented – they have built a fully-operational business offering from the ground up in less time than many insurers, still tied to legacy systems, take to make a small change to a single insurance product.”
Duck Creek Technologies, which is engaged in providing SaaS-based enterprise software to the property and casualty insurance industry, bagged an investment of $120m in December 2019 from Dragoneer Investment Group, Insight Partners, funds advised by Neuberger Berman, and Temasek.